Category Archives: Real Estate News

Miami-based Key International acquired a hotel development site on Fort Lauderdale beach for a combined $9.56 million in three transactions and began demolition on the property. Dan Teixeira, VP of business development at Douglas Elliman Florida, brokered the deal for the 0.71-acre site at 3017-3029 Alhambra Street. Key International affiliate KW Alhambra Property acquired the…

A West Palm Beach office building leased to a single tenant sold for $10.25 million, a 20.6 percent gain from its last trade two years ago. CBRE’s Todd Weintraub, Mark Drazek and Ray Ramano represented seller NL Ventures Wekiva, an affiliate of Dallas-based AIC Ventures. The 40,254-square-foot building, at 1920 Wekiva Way, was sold to…

The Holiday Inn Hotel in downtown Miami, which had been envisioned as a redevelopment with a 77-story tower, sold for $22.5 million below its last trade. The transaction was a bit unusual, as the seller executed a lease back with the buyer and both parties obtained financing. The 200-room hotel was sold for $42.5 million…

The Dolphin Park of Commerce III, a commercial condominium with three types of uses, broke ground in Sweetwater after securing financing. Centerstate Bank of Florida provided a $10 million construction loan to Dolphin Park of Commerce III LLC, managed by Robert S. Lechter of Miami-based RemsGroup. It funded the 90,035-square-foot project at 10887 N.W. 17th…

Tate Capital has acquired a controlling interest in an office building near the Dadeland Mall and plans to redevelop the site with a mixed-use project. Coral Gables-based Marquis Bank provided $8.5 million of acquisition financing to Kendall Drive Joint Venture and 7300 Kendall Drive LLC, both affiliates of North Miami Beach-based Tate Capital, led by…

Local developer Navarro Lowery wants West Palm Beach officials to approve the conceptual site plan of its $134.6 million redevelopment of the city’s former city hall. Frank Navarro, president of the developer, will present the design for the mixed-use project to the City Commission on Monday evening, but the Business Journal has a first look…

A large chunk of Plant City farmland is officially in the hands of a South Florida group planning a massive warehouse development on the site. McCraney Property Co., based in West Palm Beach, has closed on 70 acres at the intersection of County Line and Rice roads in Plant City. The land is part of…

Margate officials will consider a development plan for a self-storage complex plus a retail building. The project by Winter Park-based Nuvo Development would be on the 2.8-acre site at 750 South State Road 7, on the northwest corner of Southwest 8th Court. The property was foreclosed on by Jacksonville-based Florida Capital Bank in 2012 and…

The home of the Palace, the only gay bar/restaurant on South Beach’s famous Ocean Drive strip, has been sold to a New York investment group for $15.25 million. Miami Beach-based 1200 Ocean Associates, managed by Goldman Properties’ Jessica Goldman Srebnick, sold the 18,287-square-foot building to Infinity 1200 Ocean Drive, an affiliate of New York-based Infinity…

From the New York site: After a wait of 417 calendar days, or 286 trading days, the S&P 500 finally set a new record high on light volume. Bonds have soared, and yields have dropped to ludicrous lows. The 10-year Treasury yield hit an all-time low on Friday of 1.366 percent. Globally, nearly $13 trillion,…